News
Message of the Zespół Elektrowni “Pątnów-Adamów-Konin” S.A. Management Board
In connection with the inability to reach an agreement with the trade unions on the suspension and termination of the Employee Pension Plan (EPP), the Management Board of ZE PAK S.A. decided to pass the Resolution no. 126/VI/2016 on the unilateral termination of the Employee Pension Plan (EPP) Workforce Agreement of 11 April 2006 (as amended) on 12 May 2016. Due to the fact that negotiations with the trade unions have not led to reaching an agreement, the Company’s Management Board is not able to guarantee adequate financial resources for the bonus purposes in view of the current difficult situation on the market. of electricity producers.
At the same time, the Management Board decided on the termination of the agreement with BPH Towarzystwo Funduszy Inwestycyjnych S.A. on paying Basic and Additional Contributions of the Employees to the Investment Fund of 12 June 2006 (as amended) as well as application to the Polish Financial Supervision Authority on deleting the EPP ZE PAK S.A. from the programme register.
In accordance with the provisions in the Workforce Agreement, the EPP will be liquidated with 12-month notice period counted from 1 June 2016, during which the contributions will be charged and paid to the EPP. Along with this, the agreement with BPH TFI will be also terminated, and ZE PAK S.A. will apply to the Polish Financial Supervision Authority (PFSA).
After the PFSA’s decision, the EPP participants will decide whether they transfer the money from the EPP to an Individual Retirement Account, or a personal account.
At the same time, the Management Board of the Company declares further willingness to cooperate and conduct negotiations with a social party in order to reach an agreement.